With the new strategy, NMB adopts the value chain approach while expanding its activities in agriculture sector by increasing the number of crops from the previous 5 to more than 12. The bank’s financing in agriculture will allow scheme financing through AMCOs and other farmers groups expand the scope of crops, adopt the value chain by focusing not only to primary agriculture production but also input suppliers, traders, processors, importers and exporters.
Under the new approach, at least TZS 500 billion has been set aside to provide credit to agriculture in the country for the coming 5 years. The finance solution that facilitates access to credit is expected to aid farmers in achieving improved cultivation practices, higher yields and ultimately increased household income while increasing the export volumes of agriculture products.
For more on this story visit the following link: NMB LAUNCHES AGRIBIASHARA TO REVAMP ITS AGRICULTURE FINANCING